Consider the Lamplight neighborhood of Boblandia. In 2006: 44,000 scones were demanded and residents took 35 vacations to Gazzalestan; the price of a scone was
Consider the Lamplight neighborhood of Boblandia. In 2006: 44,000 scones were demanded and residents took 35 vacations to Gazzalestan; the price of a scone was 97 Bobos and the price of a vacation to Gazzalestan was 108,000 Bobos. In 2010, 36,000 scones where demanded and residents took 45 vacations to Gazzalestan; the price of a scone was 109 Bobos and the price of a vacation to Gazzalestan was 93,000 Bobos. According to this data, what is elasticity of demand for Gazzalestan vacations?
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